Intel CEO Paul Otellini is to step down from his role in May after some 40 years of service with the chip giant. Otellini led Intel from the PC world to the post-PC world of cloud computing, smartphones, tablets and ultrabooks.
Intel employs some 4,000 people in Leixlip, Co Kildare, in Ireland, and is upgrading the operation to handle the next generation of microprocessors.
Otellini has seen Intel transition from the PC world to the post-PC world, maximising its grasp on burgeoning areas like cloud servers and smartphones, and spearheading the launch of the ultrabook form factor, in particularly the launch of the Apple MacBook Air.
He also led Intel through its transition towards 3-D Tri-gate transistors
During Otellini’s tenure as CEO since the third quarter of 2005, Intel generated US$107bn in cash from operations, made US$23.5m in dividend payments and increased the quarterly dividend by 181pc from US$0.08 up to US$2.25.
From the end of 2005 through the end of 2011, Intel achieved record revenue and net income. During this period, annual revenue grew from US$38.8bn to US$54bn, while annual earnings-per-share grew from US$1.40 to US$2.39.
“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said. “After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership. I look forward to working with Andy (Bryant, chairman of the board), the board and the management team during the six-month transition period, and to being available as an adviser to management after retiring as CEO.”
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